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Bank Act

Version of section 343 from 2012-12-19 to 2023-05-17:


Marginal note:Proposing liquidation

  •  (1) The voluntary liquidation and dissolution of a bank, other than a bank referred to in subsection 342(1),

    • (a) may be proposed by its directors;

    • (b) may, if the bank is not a federal credit union, be initiated by way of a proposal made by a shareholder who is entitled to vote at an annual meeting of shareholders in accordance with sections 143 and 144; or

    • (c) may, if the bank is a federal credit union, be initiated by way of a proposal made by a member in accordance with section 144.1.

  • Marginal note:Terms must be set out

    (2) A notice of any meeting at which the voluntary liquidation and dissolution of a bank is to be proposed must set out the terms of the proposal.

  • 1991, c. 46, s. 343
  • 2010, c. 12, s. 2037
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